Thursday, September 10, 2020

SIA cuts 4,300 jobs due to Covid-19

 Read here 

Cabin crew is affected by retrenchment. Singaporeans not included for now. About 1,000 foreign cabin crew to be retrenched. Last in will be the first to be retrenched.Those retrenched will receive 3 months of their last drawn salary. 

Foreign crew with more than 2.5 years service will not be retrenched at this point of time.

Pilots are negotiating the terms of retrenchment with SIA.

Singapore ground staff are spared at the moment.


Anonymous said...

any idea if most affected are cabin crew?

Anon said...

To Cabin Crew

The dreaded news has arrived.

Most likely SIA will let go the most senior CC.

Its time to face reality on the ground. Air travel is predicted not to return pre-COVID19 levels till 2024 (thats 4 long years)

What are you going to do till then?

You once look down on those with low-paying jobs and strut with LV bag etc. Now, you're going to be one of them - only this time, you're junior at very senior age earning peanuts in costly SG.

Anonymous said...

To all the SIA and crew haters, arent you happy now?

Anonymous said...

This is just the first round, i feel more to come so long Covid is still here

Anonymous said...

Pilots affected not cabin crew

Anonymous said...

Cabin Crew are affected as well. Some crew have received email for briefing next week.

Anonymous said...

Sure got more cabin crew than pilots.
Pilots not easy to train,
But cabin crew are easily replaceable.
Once air travel resumes again, just recruit newbies then promote the current junior ones.

Anonymous said...

Expected, but did not want to upset the CC.At least those R won't be covided by pax guaranteed, and change job to tide till 2024.Those that suffers will be the 8 who fix up the LS.Karma has a strange way if going for those with dirty hands,remember, integrity, not bearing false witness have rewards in life.Sexcy and Ah Qua still cuss after they retire, the next R will be IP,not kunflu. Your journey in life just started, now to make it through this pandemic, and one shall be rewarded.

Anonymous said...

Sad day for Malaysian crew.. mostly malaysia , Thai crew leaving. Locals protected by PAP.

Anonymous said...

Yeah, putting the blame on Covid is only part of the story, should'nt those in the management take some responsibility for this fuel hedging disaster as well?

The carrier also posted a substantial 710 million Singapore dollar loss as a result of ineffective fuel hedging contracts that matured during the last fiscal year.

Singapore Airlines has a hedging policy very different to those of many carriers. They are the only carrier hedging their fuel needs up to 60 months in advance, and the sudden drop in the price of crude oil caused by the COVID-19 pandemic is likely to cause significant losses for the airline in the fuel hedging department until 2025.

At the end of January 2020, Singapore Airlines had hedged 79% of its fuel requirements for February and March at an average price of $76 per barrel, the Singapore Business Times reported. For the full fiscal year ending on March 31, the airline had hedged 73% of its fuel needs at a price corresponding to $58 per barrel.

After the COVID-19 outbreak, the price of crude oil collapsed to reach a record low — close to $10 per barrel — and it is now trading close to $30 per barrel. Singapore Airlines has already hedged 59 percent of its fuel needs for the next four years at prices above $50 per barrel, meaning the airline is vastly overpaying for the time being.

While it is not uncommon for many international carriers to use fuel hedging tools to reduce the risks of price volatility for a 12-month time horizon, very few carriers buy fuel more than two years in advance. Southwest Airlines and Japanese carriers Japan Airlines and All Nippon Airways are among the carriers hedging fuel over a period of three years or longer, an analyst at Morgan Stanley told the Singapore Business Times.

The airline has said it expects potential fuel hedging losses for 2.6 billion Singapore dollars for the next fiscal year.

Anonymous said...

"To all the SIA and crew haters, arent you happy now?"
Just to clarify,I dont think one should envy the allowance paid,they deserve it.Blame game now,but some in CC deserve brickbat,its been suspected Corporate behaviour,they will retrench,or any other name to thin the cashflow of billions inputed.Imo normal behaviour,look at other Airlines etc.Only difference,those with bad karma get worse,those with pious hard,get guidance and they shall not be wanting,or as political words,emerge stronger.If one can survive through a Pandemic,you and your gene deserves a good future !

Anonymous said...

I’d better check my junk mail. I thought crew that were affected by this round we’re already informed. Hopefully not another round next week. Sleepless nights....

Anonymous said...

fake nimpeh says:

coming here to read BT blog means
" is testament that u have regreted your action and not making good on ground."
" you think he doing very well outside meh. must have kena from IFM n quit n end up doing some low SES job now"

It shows crew mindset, only want to hear what they like to hear example:
" CC is the best job that doesnt bring work home "

Now lets see who have to do low SES job :)

Anonymous said...

Everywhere also same. Can see some crew talk about their furlough or retrenchment on YouTube. Times are tough for the industry.

Anonymous said...

Now lets see who have to do low SES job :)
Ah... the senior crew not affected leh. They don't have to do SES job leh. Where got meaning. U kena karma instead is it.

Anonymous said...

Why SIA employ foreigners to be a Singapore Girl? Ridiculous

Anonymous said...

its not ridiculous if you were to do some research about airlines operation first. It is a fact that all international airlines hire foreign crew.

Anonymous said...

The reason for hiring foreign crew is because certain countries such as Korea and Japan requires the announcements to be made by them. It is mandatory, otherwise you are not permitted to land in their countries.
As for the Malaysian and Indian, etc the pool of Singaporean girls is not big enough, resulting in problem in hiring the right person to be a Singapore girl.
There are other reason as well but the gist of it is the above.